Argentina Unveils Currency Measures as Black-Market Peso Slumps
- Government loosens currency rules for importers, tourists
- Black-market peso has weakened to record of 335 per dollar
The Central Bank of Argentina in Buenos Aires, Argentina, on Thursday, July 7, 2022.
Photographer: Pablo E. Piovano/BloombergThis article is for subscribers only.
Argentina unveiled a slew of currency measures for foreign tourists, importers and local companies that aim to shore up the currency amid a month-long slump in the country’s unofficial exchange rates.
Importers of strategic sectors in the economy will have more access to dollars, the government said in a statement Thursday, as it seeks to avoid shortages of imported goods. Meanwhile, foreign tourists who are not residents in Argentina will be able to exchange as much as $5,000 for pesos at a more lucrative exchange rate than the official one.